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Student
Title
Supervisor
Faculty
Educational Programme
Final Grade
Year of Graduation
Ilya Frolov
The Effectiveness of Mergers and Acquisitions in Oil and Gas Sector
Corporate Finance
(Master’s programme)
2017
In this study, there was performed the analysis how stock market reacts on news about companies of oil and gas sector start mergers and acquisitions processes. One of the main tasks in this study was identification of determinants of performance which influences the effectiveness of M & A transactions. There were considered the public companies from the oil and gas sector that acted as buyers. 146 deals were analyzed in the period from January 1, 2000 to December 31, 2016. There was applied event method for the evaluation of the effectiveness of M & A transactions. Data for the studies were obtained from the databases of Capital IQ and Thomson Reuters Eikon. Result of the study shows that the determinants of performance: Deal Size, (RPR) and cross-border acquisitions have a positive effect on cumulative abnormal return (CAR).

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